Friday, September 17, 2021
Appearances
The Federal Reserve is investigating the ethics of stock trading among its members. Two officials completed million dollar deals in the middle of the pandemic. This has opened the agency to criticism that its governors might be profiting from inside information. Whether or not they gained from the action, it looks bad, and appearances count. The Fed should act independently of the corporate economy because its actions affect business at every level. There should be no hint of inside dealing among any of its executives. That way, they can look with unbiased eyes to the state of the nation and what their decisions will do. They will also inspire trust in their judgment, an essential factor in all the Fed does.
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